Is Bitcoin a Buy? Whales & Institutions Hint at Bullish Trend
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- Bitcoin addresses holding 10-10,000 BTC have accumulated 133,300 coins in the past month amid market uncertainty.
- Public companies’ Bitcoin holdings have surged nearly 200%, from $7.2 billion to $20 billion, in the past year.
- The Crypto Fear & Greed Index shows fear at 30, while Bitcoin dominance slightly drops to 56%, indicating cautious sentiment.
BTC whales and sharks (addresses holding 10 – 10,000 BTC), are snapping up Bitcoin even as the overall market grapples with indecision. On-chain analytics firm Santiment reports these whales and sharks have collectively accumulated an additional 133,300 coins over the past month. Meanwhile, smaller traders have been selling off their holdings, transferring them to these larger wallets.
— Santiment (@santimentfeed) August 28, 2024
Bitcoin currently sits at $58.9K, which is apparently just fine for whale and shark holders. Over the past month, wallets with 10-10K BTC have collectively accumulated 133.3K more coins while smaller traders continue to impatiently drop their holdings to them. pic.twitter.com/CmOU1tdVwN
Publicly listed companies have also substantially boosted their Bitcoin reserves. Over the past ye…
The post Is Bitcoin a Buy? Whales & Institutions Hint at Bullish Trend appeared first on Coin Edition.
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In This News
Coins
$ 63.23K
-3.96%$ 0.00786
-8.02%$ 0.00...361
$ 213.96
$ 0.0768
-1.76%Predictions Markets
See what traders are focused on
Share:
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